The budget deficit in 2021 was high, but better than expected, as noted by Eurobank Research in the latest issue of “7 Days Economy” published today, while emphasizing that the fiscal adjustment is necessary to cultivate positive expectations. According to Eurobank Research, “according to the 1st notification of ELSTAT for the financial data of the […]
Tag: deficit
In the final stretch the Stability Program
By Tasos Dasopoulos High growth rates and the continuation of the tax reduction agenda will be included in the revised Stability and Growth Plan 2022-2025 to be sent by the Ministry of Finance to Brussels by the end of the week. According to information, the only scenario that will include the Greek plan will predict […]
Significant reduction of debt and deficit in 2021 due to overperformance of the economy
By Tasos Dasopoulos ELSTAT records a decrease of 2% of GDP in the primary deficit and by 3.8% of GDP in relation to the Budget forecasts for 2021 for the budget closure of the previous year as a result of over-performance of the economy. Specifically, the primary deficit reached 5% of GDP compared to 7% […]
Athens’ proposal for changes to the Stability Pact
By Tasos Dasopoulos The total deletion of the debt and deficit fiscal rules as they apply today is the basis for the new modern fiscal rules, which will be discussed in May, once France has a new government. Greece has adapted to its points its proposal for the reform of the Stability and Growth Pact, […]
Italy: The budget deficit shrank in the fourth quarter
Italy’s budget deficit shrank in the fourth quarter of last year, to 3% of GDP, compared to a deficit of 5.8% in the corresponding period of 2020, according to the statistical service Istat. For the whole of 2021, the deficit stood at 7.2% of GDP, confirming the data released on March 1st. In 2020 the […]
Operation ‘fiscal stability’ for the Ministry of Finance
By Tasos Dasopoulos The signal that 2022 will be the year in which Greece will prove that the increase in debt and deficits in the two years 2020-2021 was a result of the coronavirus crisis and not fiscal easing, wants to give for the next period the Ministry of Finance. The discussions that took place […]
Scope Ratings: Raises to 9.3% the estimate for the growth of Greece in 2021 – Why does not worry about the Greek bonds after the ‘turn’ of the ECB
Of Eleftheria Kourtali Scope Ratings has proceeded to a new upward revision of its estimates for the development of Greece in 2021, in the context of the established monitoring review report (monitoring review) which the house conducts every six to 12 months and which is not an evaluation report. The house now estimates that Greek […]
Scope Ratings: Launches 9.3% estimate for Greece’s growth in 2021 – Why not worry about Greek bonds
Of Eleftheria Kourtali Scope Ratings has proceeded to a new upward revision of its estimates for the development of Greece in 2021, in the context of the established monitoring review report (monitoring review) which the house conducts every six to 12 months and which is not an evaluation report. The house now estimates that Greek […]
Favorable forecasts for this year’s deficit
By Tasos Dasopoulos The first measures of fiscal adjustment that must be made in 2022, in order to have a smooth landing of the economy in the fiscal rules in 2023, will be made from this year through the highest growth. The primary deficit reached 7.9% of GDP in 2020 due to the pandemic. This […]
The Ministry of Education and Science enters into a mode of ‘fiscal contraction’
By Tasos Dasopoulos Additional spending only for the “essentials” is the rule that seems to be adopted by the Ministry of Finance, wanting 2022 to be a year of fiscal stabilization, so that in 2023 the economy will have a “smooth landing” in the restoration of fiscal rules. Following the data published by ELSTAT for […]
